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Financial Times: Global stock markets surged on Friday as confidence grew that central banks had acted decisively to buttress the European and US economies, while averting a possible eurozone break-up; European shares hit highs not seen for more than a year. On Wall Street, the S&P 500 extended an advance that has pushed the index to its highest level since late 2007.

The Guardian: Eurozone finance ministers hinted on Friday that Greece may be given more time to pay its debts, though they ruled out a third bailout, which most economists believe will be needed before Athens can get back on its feet.

Financial Times: YPF, the nationalised Argentine energy company, has reached a deal with Chevron of the US to develop shale oilfields in Argentina.

Daily Express: Royal Bank of Scotland gave the green light to a £3 billion float of its Direct Line motor insurance arm yesterday, which would make it the biggest British stock market listing in more than a year.

The Independent: The New York Stock Exchange is to pay $5 million to resolve US civil charges that it gave certain customers "an improper head start" on trading information.

Financial Times: Brazil’s central bank has liquidated two of the country’s lenders in what is estimated to be the nation’s biggest bank collapse in seven years.

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The Daily Telegraph: Kweku Adoboli, an “out-of-control” rogue trader accused of Britain’s biggest banking fraud, “was a gamble or two away from destroying Switzerland’s largest bank”, a court heard yesterday.

Financial Times: Tom Rothman has unexpectedly resigned as co-chairman of Twentieth Century Fox Film, the News Corp-owned Hollywood studio behind movies such as Avatar and Titanic.

The Daily Telegraph: A rescue plan for the makers of Hall’s sausages, designed to safeguard more than 1,700 jobs, has been rejected by the company’s Dutch owners.

Financial Times: Sunseeker, the UK’s largest maker of upmarket motoryachts, said it had increased underlying profits by 18 per cent in the past year and had a healthy order book for 2013.

Financial Times: Heineken is taking a gamble on a €60 million marketing campaign tied to a new James Bond film that has already upset some followers of the franchise.

Daily Mail: UK construction activity grew 2.2% in July, suggesting the economy may be slowly edging out of recession.

The Daily Telegraph: The Bank of England is to auction a series of banknotes for hundreds of pounds more than their face value.

Daily Express: Estates, the majority owner of Canary Wharf, said Olympics fans "stopping off" at its shops on their way to events had helped lift its figures.

The Daily Telegraph: International supermarket chains such as Tesco and Walmart are to be allowed to set up shop in India as the government bids to revolutionise the country's ailing agricultural sector.

Financial Times: Chariot Oil & Gas’s shares slumped 69% after the Africa-focused explorer’s Nimrod prospect off the coast of Namibia came up dry.

The Guardian: Strikers at Lonmin's Marikana mine rejected a pay offer on Friday, dashing hopes of ending five weeks of industrial action.

The Guardian: Britain's windfarms broke a new record on Friday by providing over four gigawatts of power to the National Grid – enough to light and heat more than three million British homes.

The Guardian: Japan has announced plans to end its reliance on nuclear power within 30 years, in a historic policy shift prompted by the triple meltdown at the Fukushima power plant.

Financial Times: Home Depot is to close its last remaining big box stores in China, admitting defeat in a country where it has not found the successful store formats and DIY culture on which its US business depends.

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The Daily Telegraph: The Financial Policy Committee, the body with oversight of the UK financial system, will not prevent banks from taking risks, according to member Paul Fisher.

The Daily Telegraph: Joe Lewis, the billionaire owner of Tottenham Hotspur, has become embroiled in another hostile takeover battle after Timeweave, an Aim-listed minnow, rejected his £50 million approach.

The Daily Telegraph: The former chief executive of BAE Systems has said the British defence company's proposed merger with EADS is its "last chance saloon" and shareholders have "no alternative" but to back the deal.

The Daily Telegraph: Mike Ashley's Sports Direct is close to striking an eleventh hour deal to buy troubled retailer JJB.

The Daily Telegraph: Pubs group JD Wetherspoon has reported record annual sales despite the consumer squeeze.

The Guardian (Comment): No more austerity is needed in Spain – the country has more than sufficient funds to cover the deficit and finance recovery.

Daily Mail (Comment): Three days after BAE-EADS unveiled their ground breaking £31 billion merger, political classes on both sides of the channel are waking up to the importance of what is being proposed. And the early signs are not very promising for BAE’s chief executive Ian King.